Cost of raising kids

Posted Aug 5th, 2009 at 12:27 AM by Munni

Families with more income spend more money on child-related costs, the report said. A two-parent family that earns less than $57,000 annually will spend about $160,000 on a child from birth through high school. Those with an income between $57,000 and $99,000 spend about $221,000 and those with higher incomes are expected to spend roughly $367,000 through age 17.

Most single-parent households in the U.S. make less than $57,000 and are expected to spend about 7 percent less on child-rearing costs compared to two-parent households in that same income group, according to the report.

Costs of raising a child are highest in the urban northeast and lowest in the urban south and rural areas.

http://news.yahoo.com/s/ap/20090804/...parenting_cost

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That is seriouslyyyyy a lot of money. I dunno how people do it. Should we start saving money for kids before even having them?

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	spending $13,000 on a child per year seems pretty reasonable to me....cost of raising a child is very very expensive these days, ask the moms!!!
	Posted Aug 5th, 2009 at 12:35 AM by CorruptAngel

	It's 21K a year if you are in upper income bracket. I had no idea its so expensive. smack
	Posted Aug 5th, 2009 at 01:21 AM by Munni

	I've an idea how expensive it is.I've seen my parents spending so much money on my education
	Posted Aug 5th, 2009 at 01:29 AM by waterfall99

i can imagine.

and yes, higher the income, the more money u r likely to spend on giving them "better" education.. whatever that means.

But i guess, having more money, just means you have more of a choice to provide them with better things. But then, u gotta see how much ur cutting back on to provide them just that extra little bit

My parents sent us to public schools. And we all Mashallah came out fine. There wasnt money spent on our education... just the right attitude, the right amount of attention.. and thats about it

money cant buy u everything.. sure it helps. But aint the solution

Posted Aug 5th, 2009 at 01:36 AM by sadzzz sadzzz is offline

	Yea Munni you need to cut down on ur chocolates
	Posted Aug 5th, 2009 at 02:16 AM by NaMaan

	If you are making lets say 120K a year and then you are spending around 20K a year on each child, if you have 3 kids that will take up most of the net pay. I dunno how people do itttttt. Allah knows best as He is the Sustainer.
	Posted Aug 5th, 2009 at 09:21 AM by Munni

	what ? have been told, if I make kids , they 'll be the one paying me
	Posted Aug 5th, 2009 at 09:25 AM by Naabigh